I’ve always appreciated the dual meaning of the word “talent.” In the Bible, a talent is a unit of monetary value. Today, it refers to our gifts and skills. Both meanings apply when it comes to giving. And, you can give either form of talent to benefit the common good.
But how you give your talents matters.
The U.S. federal tax code underwent massive changes in 2018. Because of these changes, many folks found they weren’t getting the refund amount they normally did. In some cases, people who typically received a refund actually owed the IRS.
One concern about these changes was that charitable giving would decrease. And it did, among folks who give less than $5,000 per year. They knew they weren’t going to see a tax benefit from their contributions due to the high standard deduction, so many withheld their giving.
The good news is that many people who give significant amounts each year continued giving — and even gave more than usual in order to get full tax benefits with the new standard deduction. This is what we call “bunching” — and it’s a strategy from which more taxpayers could benefit.
A considerable factor in the Catholic Community Foundation’s (CCF) ability to facilitate “smart philanthropy” is its board of directors. “All 25 members are inspired by their Catholic faith,” says CCF President Anne Cullen Miller, “and all bring an incredible breadth and depth of expertise and experience to help drive strategy.”
Catholic schools’ combination of quality education and faith formation brings value to students, parishes and the wider community, but financial and social barriers to Catholic education remain for some families, including a growing Latino population, experts noted at a June 25 forum on education sponsored by the Catholic Community Foundation of Minnesota. The forum was held at Cretin-Derham Hall high school in St. Paul and drew 90 pastors, donors, school administrators, educators and community leaders. It was part of CCF’s ongoing “Giving Insights” series, which explores the impact of Catholic philanthropy on the community…
What do you want your family’s legacy to be? If you struggle to answer that question, consider this one: What do you want to pass on to your children when you yourself pass on? You might think of gifting your children an inheritance of money to provide financial support. Or perhaps, you picture an heirloom, an artifact that has been […]
You’ve likely seen recent reports of record highs in the stock market. When the market is strong, we see an increase in giving across the board. A 2018 report by Giving USA found that stock market values “are an indicator of financial and economic security,” and that “households and corporations are more likely to give when the stock market is up.”
About this time last year, a curious envelope from His Eminence, Cardinal Peter K.A. Turkson arrived at CCF’s office. Addressed to CCF President Anne Cullen Miller, the envelope contained a humbling invitation to attend the Third Vatican Conference on Impact Investing to take place in July of 2018. The conference convened brilliant minds from around the globe, all seeking innovative ways to…
Weeks of bitter cold, heavy snowfall, and canceled meetings didn’t keep 234 individuals from gathering for the Catholic Community Foundation’s (CCF) annual Investment Conference. The event, held on February 13, 2019, convened professional advisors, parish business administrators and trustees, and philanthropists to explore how CCF manages and invests donors’ and parishes’ assets with a Catholic heart.
A variety of speakers delivered updates on the foundation, our investments, and the economic outlook during the two-hour program. These included CCF’s own Anne Cullen Miller and Mike Ricci, Ascension Investment Management (AIM) chief investment officer David Erickson, and economic commentator Jim Paulsen.
On February 19, 2019, the Minnesota Catholic Conference gathered hundreds of Catholics at our state’s capitol to advocate for policies that uphold the values of our shared faith. This event is called Catholics at the Capitol, and the energy of the attendees was palpable as they prepared to discuss a wide variety of important topics with their state representatives. One legislative initiative that could have a tremendous impact on our faith community involves the impending transfer of wealth. Over the next 20 years, an estimated $47.9 billion in wealth will transfer from…
Amid worry that bad news about the Catholic Church and the clergy abuse scandal could impact Catholic giving, one financial expert just published a paper with a different story. Walter Dillingham, a Catholic, who is managing director of endowments and foundations at a New York firm that helps nonprofits manage their finances, has released a study that shows Catholic foundations have been growing — and multiplying — at near-record rates over the past two years…